Cedar Hills
condominium demand
declined
significantly. Average prices
sold have fallen by
more than $40,000
from the average in
June 2008.
The number of condos
sold during 2009is 11. However, on the
positive side, the average
number of days a
condo stays on the
market until sold
in Cedar Hills is
67, which is 11 days
less. This decrease
in the amount of
time it takes to
sell a condo in
Cedar Hills can be
mostly attributed to
the low number of
condos listed on the
market. Currently there
are no condo sales
pending in Cedar
Hills.
Supply
Supply in Cedar Hills
is down. Currently there
are 3 condos for
sale listed on the
market. This means
there is only a 3 month
supply. This factor
favors condominium
sellers.
Price
Condo
prices have
fallen
in Cedar Hills. The
average condo price
(sold) is $187,155 over the
past year.
Conclusion
The Cedar Hills condo
market is
beginning to shift
to a seller's
market. Supply
is short and prices are
continuing to fall
which should
stimulate more
demand. As demand
increases, buyers
can expect higher
condo prices.
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
